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a bunch of democrats saying we don't want any spending cuts, entitlement cuts, nothing. just pass the debt ceiling. no spending. >> do whatever it takes. apparently the hurdle is some legality. not whether it's a good idea, not whether it calls into question the independence of the central bank, the independence of whether the treasury will now have the new power to print money whatever it has. as long as it's legal. let me tell you. of all these options, the magic coin option, the 14th amendment may be the worst option. it will be challenged in court. the court moves forward. you end up with two classes of u.s. debt, one which people have a lot of confidence in, then this different class of debt which was created under this who knows what new legal authority that they found. >> this is the point. let me go right. the i.o.u. this is interesting. edward klinebard, former chief of staff at the congressional joint committee on taxation is now teaching law at the university of southern california. now, he says that congress has constitutional authority to raise the debt and only the congress.
is not just to entertain you but educate and teach. call me 1-800-743-cnbc. don't you just hate reality? boo! don't you hate it when you know the numbers are too high or the world is simply not yet in a place where you can be confident that things are okay? the thought don't you hate that some members of the federal reserve think that we have reached a great place so it is time to stop helping the economy. the heat don't you hate that washington doesn't care what place that we are in at all. don't you hate that karma. >> house of pleasure. >> house of pain. >> dow sinking 55 points today. nasdaq declining .23%. you know i hate all of these things. what do you do? throw your hands up? no, you look for themes. that is why i'm a big believer in themes. all week i plan to trace out the themes of 2013 that you can fall back on when the dow falls. the headlines are dominated by anxiety. i expect the market to go down in the near future. i like what alcoa said, and monsanto. but look, i think it is too high right now and maybe it comes in. but i don't want you to fear that decline. no opportunity,
lee. meantime, don't go anywhere because "mad money" with jim cramer starts right now. >>> i'm jim cramer. and welcome to my world. >> you need to get in the game. go out of business and he's nuts! they're nuts! they know nothing! i always like to say there's a bull market somewhere. "mad money," you can't afford to miss it. other people want to make friends, hey, i'm just trying to help you save a little money. my job is not just to entertain, but i'm trying to coach and teach you. so call me at 1-800-743-cnbc. just when you think the stock market can't keep rallying, when you think that stocks have gone up too far, too fast, the buyers, they come in with a vengeance today! ♪ hallelujah . dow climbed 82 points, closed the at a five year high. why did the stocks rally? why? sometimes it is pretty call cuable, simple, because the simplest driver on earth, china, reported a blowout export number showing the country's plans to reignite growth are, indeed, working and we believe in that. when that happens, buyers swarm in, they buy commodities, thinking how could they not rule now th
these matters resolved? look, the biggest problem confronting the country is not taxes, it's spending. we don't have this problem because we tax too little. we have it because we spend too much. we now have a $16.4 trillion national debt, as big as our economy. that alone makes us look a lot like greece. this administration has driven spending from 21% of our economy up to almost 25% of our economy. we've got to stop using the credit card, and any opportunity we have to engage the other side in a discussion about quitting the spending spree, we're going to engage in. >> and the question is, how do you follow through on your strategy, and, you know, a lot of your allies are worried about that prospect. "the wall street journal" editorial page said "the political result would be far worse if republicans start this fight only to cave in the end. you can't take a hostage you aren't prepared to shoot. do the two gop leaders have a better strategy today than they did in 2011?" and i guess you're hearing that phrase more and more now, shoot the hostage. are you prepared to do it, to see the country
are not going to want to come as somebody's deputy. i don't know how they're going to fill out the lew treasury department, but i expect they will take some care and attention to tending those relationships. but when you look at the big guns on wall street, they're not going to go in as somebody's number two. >> john, was jack lew the first and only choice? >> that's been the principal focus of speculation from the beginning. i remember having a conversation with roger altman who is a friend of this program and somebody that served in the clinton administration about after the election how the president was going to fill out his cabinet. and he said if you look at the pattern that this president has followed, it has tended to pick people close to him who he feels very comfortable with. the criticism of president obama from some is that he's insular and that he has a very close circle. the positive of that is that it's a pretty cohesive group and he deals with people that he's comfortable with. and jack lew is clearly one of those people. >> you know, john, i know when you read the "new york tim
wall street to come and meet and talk about things then you don't know what really will come out of it. this is a parade of people coming through. do you think that something is really going to come out of it? >> we'll definitely get a report. how much the administration will push this, remember the administration didn't have all that much to say on gun control until these recent events developed. they always had positions on it but didn't go out of their way to discuss it. they're going for the optics. having meetings with different stakeholders. whether this translates into actual policy we'll see. that report comes out tuesday. waiting to see what is in it. melissa: definitely. rich edson, thanks so much. in light of everything that has happened some lawmakers are wondering should anyone have access to semiautomatic assault rifles and high-capacity magazines? according to the second amendment every american has the right to bear arms but alderman joe marino says not everyone should have access to the weapons. he hasn't heard an argument to believe otherwise. why do you think banning
down to it ♪ ♪ hit me with your best shot ♪ why don't you hit me with your best shot ♪ ♪ hit me with your best shot, fire away ♪ ♪ imus in the morning ♪ >> welcome to our brave new world of entitlement, it starts when you are very young. good morning, everyone. the taxpayer now feeds one in four of our nation's children. 20 million youngsters get food stamp benefits. we've never seen this before and the numbers are rising. the gun summit today. expect action soon. joe biden warns that the president may bypass congress to get something done. watch out for an executive order. niss nissan, a japanese company gets a 1.4 billion dollar loan from the taxpayer. the electric car, the leaf, gets the money. and please, look at this, if jack lew is confirmed as treasury secretary, this will be the signature you see on the dollar bill. looks like a printing. "varney & company" is about to begin. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant specializing in fish and me from e great northwest. he'll start investing early, he'
was to the left of tim geithner. he is there to execute the obama tax hike don't reform entitlements policy. >> that is a greaeat point. >> he is there to stabilize the debt. >> this is not a centerist appointment. th mr. geithner, i believe he was a centerist. >> why is he a financial market guy? >> he grew up as a banker. what about larry fink, he is a democrat and well respected by everyone. >> i have a list here. >> jamie diamond. ken chenault. >> you need someone who understands the fiscal books at a time like this. >> we disagree. we don't need someone who understands the books, we need someone who understands where we should go and where those books should take us. and i don't think he does. i don't think they understand fiscal policy better than jack lou. he got you guys a surplus back in the 90s. >> all established people in financial markets all distinguished people who command the respect of not only around here in the new york area but the whole g-20. this is going to be a bad mistake. it may be the haegle of the justice department. >> i'm not sure why you are discounting the fa
for the last five years, and this is the first month with an impressive number, but the money is spent. you don't want to trade on that. the question is one month is not a trend make. we need to see what happens, but, again, i think why you're seeing this stall, if you will, near the highs is because of the technical analysis impacting the market. liz: got it. you prefaced that before you came on the show. ed to -- todd at the cme. when ben talks about that technical exhaustion on certain levels of the market, i mean, everybody's talking about 1470 for the s&p, and that's important to hold. what are you looking at? what are you talking about? >> good afternoon, liz. you know, we are -- the problem here is there's no volatility, no volume, way too much complacency in the market. liz: what are you looking at now? historically at this point? >> it's a downward trading at 70% of normal volume right now, and so the s&p is trading at about -- the s&p futures trieding at 75% of normal volume. when you see low volumes, it's overall way too come place sent. we know what happens when people are comfortab
. i don't have any problem, larry, like you, with either one of these provisions. i'm a second amendment supporter and i don't think these go to that level. but at the same token, what happened to mental health? what happened to access to weapons? neither one of these would've blocked the shooting in newtown. >> i don't mean to be rude, but i've got breaking news i've got to pick up. please hang with me. phil lebeau's got breaking news ton the 787 boeing dream liner. phil, if you're out there, tell me what you've got, my friend. >> larry, we have learned that the faa is going to be conducting a special review of the power system in the 787 dream liner. essentially this is the faa saying let's take a pause here and take a look at the design, the manufacturing, how the power system works on the dream liner. let me be clear here, this is a special review. this is not an airworthiness directive. it would be a much more serious matter. and it might involve airlines being told stand down, don't fly this plane. that is not what is happening. airlines that have the dream liner will con
sheets. >> china looking better, europe not as bad. >> you're, i don't know about that. >> well, we call this the economy in a coma. basically without these trillions of dollars of stimulus, we would be in a downturn, in a depression because we also have 42 trillion in private debt, the greatest debt bubble in history and that needs to unwind. basically ben bernanke and the economists are just saying we're just not going to let this slowdown happen. we're not going to let the debt de-leverage. if you don't let the debt de-leverage or restructure japan, the same thing japan has done, quantitative easing forever, you never come out of this because the debt keeps weighing on the economy so not only do you have slowing demographics. we've got a 200 to 300-pound weight on our back and you can't run very fast. we get 2% growth with massive life support. we're in the emergency room on life support only because of this trillions of dollars of stimulus. i guarantee -- >> what's the catalyst? >> you take away this stimulus for one year, and this economy dies. >> harry, stay right there. want to ge
. >> you ready? >> i am. i'm ready. ready to -- i don't know. i'm ready. >> you ready? >> i'm ready. i might -- i don't know. we'll see how i feel. no, i'll be here. >> okay. >> don't worry. >>> let's talk about boeing and the dreamliner. more news on the front page of many papers today. lots of continued problems including this one -- japan's all nippon airways canceled a boeing 787 dreamliner flight scheduled to flight from western japan to tokyo today. the airline citing brake problems. and this add to a series of setbacks for the aircraft this week. yesterday a fuel leak forced another 787 operated by japan airlines to cancel takeoff at boston's logan airport. and on monday, there was an electrical fire on another 787 after a japan airlines flight to boston from tokyo got -- caught fire. boeing's asian customers are rallying behind the planemaker, arguing the incidents are glitches that can happen to new planes. the customers say they have no plans to scale back or cancel orders for the aircraft, but maybe we can take a look at the stock. you can see it's kind of hit over the past
about things that don't matter. this is. he will take questions. any word from the fed chairman about the pace and timing of quantitative easing we'll get it to you. it could move the markets. david: and the number one thing to watch next week will be bank earnings. bac and everything on thursday. we'll hear from jpmorgan, goldman sachs. thursday we hear from citi and bank of america. melissa: i'm melissa francis and here's what's "money" tonight. well you probably heard about shell's grounded alaskan oil rig but did you know why it might have been moved, to avoid taxes. we'll drill down on those details. plus ditching the gas tax by the side of the road. virginia governor bob mcdonnell, wants his state's 17.5 cents gas tax gone for good but he wants to raise another tax instead. he will join us in a fox business exclusive to tell us how it all shakes out. >>> a landmark decision in the sports world. major league baseball will start random in season testing for steroids. will the help its tarnished image and bring in ticket sales? we have former cincinnati reds pitcher, rob dib bill.
and played -- i don't know. it was bad. >> i really went to bed. >> if i didn't stay up the previous night -- >> i know. >> you didn't stay up for it? >> i did not. and if i didn't stay up to that, i'm not staying up for some football game, i'll tell you that. >> my soap opera boys who are here. >> i was thinking about you watching the -- because we hadn't seen the actual end of season two. and i was thinking about what you're missing. there's no way you should not be watching it. >> eventually i will watch it. >> there are. >> i can watch the one that's on. i need to watch it when i -- it's like the new way people view. when you can, when you get a chance. >> did you see that michelle caruso cabrera has the third season on dvd? >> she gave me my soap. >> she did? >> she did. >> she came over the other day. you weren't there at the time, but she was going to show them off. >> yeah. >> let's start with the markets this morning, as well. the s&p retreating from a five-year high yesterday. the stocks finished the session off their lows. u.s. equities are indicated a little weaker. dow futures
in the world that has video games. >>> hello everyone. i'm don lemon. the stories you're talking about in just a moment. but first, let's get you up to speed on the day's headlines here. clinics and hospital emergency rooms across the country are packed with people sick with the flu, rolling up their sleeves for a flu shot. the cdc director says we won't know more weeks if the flu season has peaked. it is not too late to get a vaccination. 47 states are reporting widespread flu activity right now. >>> the brother of ailing venezuelan president hugo chavez says he is recovering well from his latest surgery. chavez is being treated for cancer in cuba. he's been unable to return to cuba for a planned inauguration. chavez has not been seen in public for about a month. >>> an operation to free a french spy captured in somalia has failed. france's president said two soldiers died possibly along with the hostage. france has come to the aid of mali's fragile government in its fight against islamic militants. those fighters are linked to al qaeda. >>> the man known as the american taliban has won a leg
checks and guns carrying near schools or giving them to minors. we don't know what strengthened and stiffened penalties. t there are a lot of loose terms. >> tucker: we don't know anything, other than the mental component would have had an impact. it's hard to see to not see this as a power grab, none of these are related to what americans are upset about. if i give my 16-year-old a shotgun, they have to register, the burden falls on people who haven't committed a crime. >> clayton: you don't have to register the shotgun now. >> alisyn: you don't have to let authorities know. >> tucker: the federal authorities. in new york state perhaps you would, but most states you don't. >> alisyn: as we know the atf has a problem with that, tasked with regulating firearms, has a problem not significanting out which gun is going where, when people give them away, sell them. if it's stolen. atf one of the agencies that called for the national data base. obviously that's controversial. people don't want to be in a data base, they want to have-- >> this came up in the wake of the shootings in au
can't nail him, if there's just suspicion, i don't think you should dock him, obviously. >> no. there's a cloud around everybody. we do have to figure out what to do. now you've got the all-time home run king, all-time hit king, a guy who won seven cy youngs in roger clemens will probably never be in the hall of fame. a guy like mark mcgwire. >> put it on the plaque. put it on the plaque. >> no, no plaque. no nothing because they aren't. >> the steroids era. >> there you go. >> first of all, that would be the biggest construction project in the history of cooperstown. >> true. good point. >> because the game was replete with steroids for a period of perhaps as many as 20 years. but certainly for 10 to 15 years. just put it on the plaque with bonds and clemens. here's what happened with them. here's what they admitted. here's what they were charged with. whatever. put it on the plaque. >> you know what my problem is, though? and maybe this is personal with me. i was born in atlanta, georgia. i grew up, hank aaron was my idol. hank aaron was a remarkable man, decent, humble, mobile, ala
expected. don't they have to be? you know what? to quote marshall sam gerard, when confronted with richard kimball's i didn't kill my wife defense, in "the fugitive," i don't care about the negativity. i don't care about the pessimism, i've got to find more seagates, i've got to get more strykers and find the themes that can produce them. i've given you a few to fall back on earlier this week, housing recovery, right? the regional bank strength. the insurance stocks, the autos. >> buy, buy, buy! >> into weakness, people. people say, oh, cramer, you like bank of america, it's down -- yeah, bank of america was down, stocks that go up 100% last year, they can go down. i like them when they go down. that's the point of this article, this piece, whatever i'm doing here. these are all fertile areas that could produce the upside surprises that drive stocks higher after the market's brought them lower, and tonight i've got two new ones. first is aerospace. by now, we've all seen the stories about boeing's troubled dream liner, nothing like genuine footage of smoking planes to get your attention. b
to get the ball rolling and solve this crisis? i don't know. we have a money power panel to help us sort it all out. the former tennessee governor, phil bredesen, from the fix the debt committee. douglas holtz-eakin formerly of the cbo and evan bayh, former senator and fox news contributor. wow what a power panel. i hardly know where to start. phil, you think it is appalling we gotten this far. why? >> i just think play games, the political games with the faith and credit of the united states is a crazy position to be in. like playing with fireworks and playing with matches in a fireworks factory or something. i understand the need to deal with entitlements and to reduce costs on that but there are other ways of doing that. there is the whole sequester thing coming up down the road. i just think it is crazy for the congress to be messing around with brinkmanship on this particular issue. melissa: doug, how serious is it to hit the debt ceiling? what really happens? do we suddenly default? do we stop paying certain parties? what happens? >> this is --. melissa: i'm sorry. i said that to d
been 1351 days since congress passed a budget. but here at "money" we don't whine. we fix things. today's power panel is here to help bridge the budget divide and finally put the mess behind us. >>> plus is slumming it apple's plan for world domination? the iphone supremacy is waning. there is word a lower end model is in the works. is it proof the phone, the iphone is finally past its sell date? we have the latest details. >>> and you get a comeback. you get a comeback. you get a comeback. lance armstrong agrees to a tell-all interview with oprah, in case you didn't know who i was impersonating there. will this resurrect his shattered brand? even when they say it's not it is always about money melissa: all right, first let's take a look at the day's market headlines. alcoa stronger than expected fourth quarter earnings help stocks snap a two-day losing streak. the dow gained 61 points. >>> aig will not sue the u.s. government over its $182 billion bailout. its board of directors refused to join a $25 billion lawsuit led by former aig chief hank greenberg in its entirety. the suit alleg
>> i don't want to pull that. melissa: next up, a tokyo sushi chain paid a record amount of money for this single 489-pound bluefin tuna. that is all the company is going to assert the tune at a huge discount. the price for a piece of sushi will range from a dollar 76 to $4.65456. there would have debt sell 10,000 times that much to make money. the chain president said they should be charging 100 times that much. i think it's more than that. how can this possibly be a smart move? you want to do the math? >> economically it's terrible, but the fish looks incredible, and i want to know how to get some. it's amazing. >> over at costco. i'll send it. >> about the same price. >> isn't it an honor when you buy the first tuna of this season? melissa: i guess. >> the reason it is so expensive is because it is being over faced. melissa: all right. that's all the "money" we have for you today. we will see you back here tomorrow. here is "the willis report". ♪ gerri: hello, everybody. i'm gerri willis. this is the things we get. bailed out insurance giant aig now considering suing the fede
. i'm deborah feyerick in for don lemon. let's get you up to speed. a big announcement expected tomorrow in washington. sources tell cnn that president obama is going to cross party lines and announce former republican senator chuck hagel as his nominee for defense secretary. but hagel has critics on capitol hill even among republicans. the question is his past views on several issues, including israel. >> chuck hagel if confirmed to be secretary of defense would be the most antagonistic secretary of defense toward the state of israel in our nation's history. >> we'll have more in a few moments. >>> help is on the way for people who lost so much during superstorm sandy. president obama signed into law today a $9.7 billion sandy disaster relief package. it was the first legislative action of the new congress. a larger sandy aid package will have to wait. lawmakers will consider $51 billion relief bill on january 15th. some people were outraged after house speaker boehner canceled a vote tuesday on the entire aid package. sandy devastated parts of the northeast more than two month
executive action if you're ever going to do it it, maybe now would be the time. >> alisyn: i don't think you need to. >> tucker: what you don't want if you're the president is to have a national debate on the subject because there's no evidence, never been any evidence, i mean data evidence, social science that shows at that guns control reduces crime. if you would get it through congress you would have adults talking about it in public and that's messy and unfortunate and difficult. >> what we want. >> tucker: it's easier to force through on executive order. >> alisyn: we shall see if that's what their plan is and we'll talk more about what the center for american progress proposed. you know the story of the journal news, at that published the names and addresses legal gun owners our own judge jeanine pirro was on that list, last night on her show, she just-- well, first what she did was send one of other producers to the journal news to try to get answers for why they did this. let's see what happened when the producer showed up. >> why won't you talk to us? can you tell me why you guys re
don't like money put to work on the up ones. particularly down days caused by the washington curse -- ♪ >> that sadly even seem to infect the great rg3 this weekend. these themes work when the market is down hard as it was earlier today before rebounding moderately. first theme, number-one theme -- the return of the banking business as an investable place to put your money. for five years now we've been under pressure, these bank stocks, under pressure -- one thing or another. it may be because they had to fight to survive or they had to flood the market with new capital, raise capital, meet the requirements, deal with the legacy of many bad loans, take on the federal reserve which has pushed rates so low that it's difficult for banks to make money versus the deposits you provide them. right? they lend, it's so little verse us what they're paying you, they can't make it. it's called net interest margin. they can't make enough off of them. at the end of 2012, we began to get a sense that the cloud was lifting, courtesy of a remarkable run in bank of america which doubled and then
to me, a lot to you. >> but when you look at the federal debt, maybe not a lot? >> i don't know. i don't know. and you know what? i don't know -- i don't know how big -- >> but at the beginning of the year, you always see a big -- >> and because everything is always contrainan in the stock market and because people rush in at top, i don't necessarily want it to be really big because if it's really big, people are getting ready to -- so i don't know whether it is big. >> you would also think that people would look at this as the prospects for lows on the interest rates. they would say the bond market isn't where i want to be so i'm going to go out on the risk spectrum a little bit. >> i'm still looking in terms of the earlier numbers. >>> let's get to the top corporate story of the morning. it is boeing. phil lebeau is+++j™n dreamliner. the review is likely to include a study of the design and electrical portions of the plane. we will bring you all that news at 9:00. it's 9:30. there it is. phil will join us from d.c. with more in the next half hour. we'll take a look at boeing shares
write articles about the fiscal cliff debate and the ins and outs and what's being cut and those don't get as many clicks as who is being mean to the president or who the president is being tough talking to. right? so, a lot of americans follow media coverage about the shenanigans, the inner workings and the purse nals and don't want to hear the nit aty-gritty about the details. does it mean we don't have a responsibility to discuss those details? absolutely we do. i'm being forth right on what goes on. it's not surprising that people are following the fight more than the details of what could happen with the legislation. >> that is the core issue. what our responsibility is to not only cover this issue, but maybe push it. after every other mass shooting. we lived through a lot of them of them in the past couple of decades. the gun issue flares up. this time seems to be very different. why? >> you had a very emotional issue. 20 school children, if that doesn't get anybody's attention, nothing will. we're not pushing an agenda, we're covering the news. the president has raised this is
. people can't just respect you, they have to fear you. if they don't fear you, they will not make the necessary changes. >> is there anybody out there who could be that person? >> too early to tell. we just had an election. people are already starting to talk about the horse race for 2016. you do elections -- >> hillary's up. >> we have a serious, serious problem that we need to address. fiscal, education, immigration, infrastructure, health care costs. i can go on and on. even the guns issue. >> the show is over. thank you for being here. >> it's a pleasure. >>> thank you, david. have a great weekend, everybody. right now it's time for "squawk on the street." >>> good friday morning. welcome to "squawk on the street." i'm carl with melissa lee, jim cramer, david faber at the new york stock exchange. let's look at futures on a friday morning. mild action here. we are paying attention to the mutual fund inflows. as for europe, disappointing industrial production numbers in spain and the uk. but the euro is at a nine-month high this morning. we begin with the s&p, a five-year high.
with a group of pennsylvania deer hunters. if you don't believe me, go see the movie, "deer hunter." it's a classic. so i'm confident closing the gun show loophole, gun safety and doing something about those high-capacity gun clips. it's going to be something reasonable hunters and second amendment fighters will find sensible. the more people have a say in writing the law, the better the law, the fewer the people, the worse the law. big corporations, for example, shouldn't write corporate fax law. and gun owners shouldn't be the only people involved in gun law. anybody can be shot by a gun, killed by a gun and they all ought to have a say. all of us should make gun law, not just the gun people. so let's go at it and please don't, please don't lose interest. this is a test of strength. keep your grip on this gun safety issue. the other side is still into keeping theirs, you know, with their cold, dead hands. and that's "hardball" for now. thanks for being with us. "politics nation" with al sharpton starts right now. >> thanks, chris: and thanks to you for tuning in. tonight's lead, the v
people. so let's go at it and please don't, please don't lose interest. this is a test of strength. keep your grip on this gun safety issue. the other side is still into keeping theirs, you know, with their cold, dead hands. and that's "hardball" for now. thanks for being with us. "politics nation" with al sharpton starts right now. >> thanks, chris: and thanks to you for tuning in. tonight's lead, the vice president will see you now. today, at the white house, we've got the latest evidence the obama team is serious about changing the way we handle guns in this country. ahead of today's key meeting, the nra vice president -- ahead of today's meeting with the nra, vice president biden assured the country, action is on its way. >> there's got to be some common ground here to not solve any problem, but to diminish the probability of what we've seen in these mass shootings. >> there's a real tight window to do this. i've committed to him. i could have these recommendations to him by tuesday. >> recommendations hit the president's desk in five days. now is the time to get this done. the vice
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an extraordinary year, thank you for watching. >>> hello, everyone, i'm deborah in for don lemon. let's get you up to speed on the headlines. hillary clinton is returning to work tomorrow morning. it will be his first day back since she was delined by a stomach virus followed by a concussion and blood clot in her brain. she was released wednesday from a new york hospital. according to her schedule clinton will meet with her assistant secretary tomorrow morning. that meeting is her only public event of the day. >>> president obama plans to nominate chuck hagel as the next secretary of defense. reaction is already pouring in, some positive, some not. we'll have much more on the story in a moment. >>> pakistani intelligence officials say a suspected u.s. drone strike killed 17 people today. today's attack follows two suspected u.s. drone strikes last week that killed 15 people, including a taliban commander with ties to the pakistani military. demonstrators protested against drone strikes thursday and burned a u.s. flag. >>> parents in new york are on edge tonight waiting to hear if their children wi
andrew cuomo? >> i'm not against gun control. i don't see civilian use for those big guns and all that. but to think that solves the problem is crazy. can't trust any politician who just proposes gun laws and goes back to sleep. the fact that a deranged person, like the one in newtown, connecticut, could still enter the school with a couple of handguns or a knife or axe. if we're not going to talk about mental health, we're not talking about the problem. >> i want to talk about mental health. i don't know if this kid could've been stopped but he was obviously mentally ill, should have been institutionalized, and i think, mark, i'm going to guess, cuomo mentioned this specifically, i hope the federal legislation deals with this too. it's got to be easier for national documentation for people with mental illness problems and for what i'll call reinstitutionalizing them. they've been out on the street for years and need to go back into the institutions, mark simone, that should be part of the change. >> absolutely, we've cut the number of institutions, the funding, all that sort of stuff
're at a disadvantage? >> they're at a huge disadvantage. they expected this to happen. i don't know how far -- they were all focussing on 2015. we'll see. >> and wouven my resolutions was i was going to start stepping out a little fashionwise. so i put this on today. it's not white. it's not blue. it's pink. and i am trying to set some new ground for myself and then -- i mean, i look at that thing that -- why are you on me? why are you on me? who is directing? >> go to andrew. thank you. >> it's a gray shirt. >> can you get any closer on that? >> it looks better -- you have to see the pattern. and then the collar itself, that's one of four different collars you can have on that shirt,ite? that comes off, right? >> no. >> that's one of those detachable. >> i think it does look better on camera. >> it's okay. >> when i look at it on camera, take another shot from andrew's head on. >> does it steal my thunder, sort of? >> it looks better on camera. it really does. >> that's a backhanded compliment. >> no, but we talk about that all the time. it looks better on camera. that looks good on camera
told me, you know, i don't have a comment on david sokol. at is his feeling today. back then i checked and the sec had not called him and spoken to him. but i know that they did speak to a lot of peole. >> you know these principles better than i do. but i must tell you that it doesn't pa the smell test for a guy that is worth so much money to make 3 million like that. why would he do it? >> well, and asked if he felt that he did anything wrong buying this stock and he said the only thing i did wrong was not resigning two years earlier when i tried to and warren buffett talked me out of it. he said that he wanted to leave to start his own family company. he said he had a personal life and he years and years ago lost his son. he ran mid-american energy, did a beautiful job, who told me this was one of his best managers. it broke his heart that someone would buy stock and then whisper in his ear. another thing that he had said that during the time, that he misled us about who came up with the idea. it was really bakers and not david sokol. either way, he was cleared and there you are the
the rich some more, forget about spending cuts and ignore the the debt. you know i'm right, kirsten, don't you? >> you're probably right. i hope you're wrong. i hope you're wrong. i don't want that end up being what's happening. the truth is-- >> hold on, i really apologize for interrupting like this. you think i'm wrong. >> yeah. stuart: do you really think that nancy pelosi and the president are going to back off on their threat to tax the rich even more? and we don't want any touching of social security, medicare and medicaid. >> you're definitely right about the taxes going up and i'm hopeful you're wrong about the fact he's not going to address debt and spending and i think i'm just going to hold out hope that they are going to, you know, actually do something on that. in terms of whether jacks lew changes anything, you're right the president makes the policy. now, sometimes you can have a treasury secretary that can have an influence like if you have a robert ruben kind of person who had a heavy influence on bill clinton and got him to see how important reducing the deficit was. bu
, and tireless dedication to his public office and millie 55 many tons of the organization's. i don't understand what any of that had to do with being a great father. >> away to raise -- >> god bless them. >> the national father's day council. he is a huge draw and still is. a luncheon in june. probably 200, 300 -- melissa: to a half to ask how monica lewinsky figures into all that? >> let's leave it out there. an interesting choice. melissa: father of the year? do you think her father would agree? >> the mom was just in the hospital. the daughter. look, it's a way to make money. they need a headline. melissa: well, the show is called "money." all right. we have to go. that's all the "money" we have for you today. the c becker tomorrow. "the willis report" is coming up next. ♪ gerri: tonight, the white house planning to use executive power to limit gun owner rights in this country. and the number one goal of american millionaires. the surprising answer to a new survey. welcome to "the willis report." ♪ hello, everybody. i'm gerri willis. the consumer financial protection bureau rolling out n
hill, that could mean trouble. >> i don't see him grabbing a mike which is what i want. i think one of the things that really hurt this whole process is people coming in front of a microphone saying that the talks are bad. leave it in the locker room. especially if you're looking at it as an investor. what really 457ed in the fourth quarter. owning stock, making decisions and someone would come on air and say this is a disaster, no way we could -- i just want quiet. even if it's no, no, no, i want quiet. maybe this man, forest hills man -- >> forest hills high school, too. queen, baby. got to bring inthe hometown. probably a mets fan like me, so he has that going for him, too. but -- >> that could be no, no, no. >> obama in a tough place. could you nominate a former banker? unlikely. could you nominate a ceo? >> i thought they could do dave cody. there's a story in the "new york times" about how everyone has a vested interest. i know dave cody personally and professionally. his vested interest in anyone who read his white paper is to cut trillions out of the budget so we do not beco
think as far as what we -- the contingent we have after 2014, i would wait and i don't know of any reason why we would make that decision today. it seems that we'd want to see what the state of afghanistan is. we'd want to see what's happening in the electoral process. all of those things are obviously big factors. my sense is there's no reason to decide whether 6,000, 9,000, 15,000 troops until we get to that point. >> but, senator reed, how about by the spring. to simply training and support by the spring? last month's pentagon report said 1 of 23 afghan battalions is capable of operating on its own. >> i was down in the patyka province, and essentially 87% of the operations in the eastern part are initiated and conducted by afghan forces, so we are already seeing a transition and by next spring the afghani forces will be in the lead. that's what our military has been doing and preparing for the last several months, so i think we're making great progress. there are issues ahead in terms of the election, but ultimately this has to be an afghan-led effort. president karzai recogniz
've had a 16% run in the u.s. equity market and i don't feel like anybody celebrate that had at all. professional investors have gotten more bullish and individual investors still remain sidelined. lots of cash sitting out there. we know there's issues at hand and know the fiscal cliff is coming down the pike but more importantly the global growth story still remains intact. it is going to have a fair amount of bumps but through the bumps we're looking at using those types of opportunities to add risk assets to client portfolios. >> absolutely our share of issues. talk about this in my observation at the end of the show. rick, a lot of optimism about the direction of this market. you just can't fight the fed. where do you think interest rates are going to do, and that's going to dictate where you want to put your money because we're talking about zero returns elsewhere. >> yeah, i'll tell you what. here's the way i look at it. i think that we're going to have a giant hiccup in the form of activity slowing due to some of the things embedded in the grand bargain at the end of the year
finale, those who don't follow the game might ask for a timeout for an explanation. fortunately for them, our bill geist will be here to help. >> reporter: friends do you find that people at this time of year always treat you like you're invisible or some sort of space alien just because you don't know football? >> this is our goal line. we have four downs right? >> reporter: attend a free crash course for football dummies later on sunday morning. >> we can either run it or pass it for two. >> reporter: you'll be amazed at the results. so will your family, friends and coworkers. >> this is called a helmet. and the helmet fits on your head. >> osgood: rit a braver looks at the past and future of exploration by "national geographic." steve hartman shows us snow flakes that comfort and heel. faith salie struggles to create the perfect computer password and more. but first here are the headlines for this sunday morning the 13th of january 2013. today is the first anniversary of the giant cruise ship cost a concordia going aground off the rocks off tuscany. there was a mass and moments of sil
in 2001. i think the real problem here is that the message to iran is you don't have to make any deals, you don't have to make any compromises because there won't be any military pressure. the president used a lot of tough language during the campaign. i'm not for containment. he said i'm for prevention. all options are on the table. but hagel has said that a military option is not viable. never mind not wise, not viable. so i think this completely undercuts any notion that iran is under pressure. it oddly enough makes it probably more likely that there will in the end be a failure of negotiations and a military attack. but he doesn't seem to support the president's policy, at least in all the speeches hagel has made, he has been very soft on iran. >> all right. we'll leave it there. former secretary of state national security council eliot abrams, thank you very much. >>> all right. now to react to ambassador abrams, let's bring in our distinguished panel tonight. we welcome back general wesly clark and a former presidential candidate, cnbc contributor tony fratto, former bush 42 whit
going into 2013 and 2014. having said that, we don't see this as being the biggest issue and certainly in continental europe and perhaps particularly in the periphery where the growth outlook has been most negative over the last few months and quarters, it probably hasn't been the biggest constraint. so we don't really see it as a game changer either in credit creation or in growth or the prospects. >> it's been suggested we should ripped up basel and start again. do you have any comments on that? >> andy's conversation is one that resinates with those of us who work in the financial industry. we live in a world of great plexty and regulation. having said that, i do also think that the idea of rules can govern a complex gibson, intellectual appealing and problems. we do need to have rules that contain some of the allegations and successes that we saw over the last date. i think right now the key is to get the balance right. but at the same time, doesn't choke off credit creation. >> it was interesting this morning, do you see a little comparison between the u.s.? one of the things he t
. >> absolutely. >> it's the size of the government. it's intrusion in our lives that's the problem here. we don't talk enough about it, the victims of this policy. it's all savers, particularly seniors, it is our children and grandchildren. what we're doing to them is utterly immoral. we've got to come to grips with that. >> senator, what are you going to do for the debt ceiling? is there a plan that gets us -- it's not going to be a grand plan. >> as a matter of fact, yes. the cbo has got a big thick book, and it shows $4.9 trillion of ways we can reduce spending. it's a menu. >> but you don't think we'll be doing that. are you going to vote for -- >> we'll do dollar for dollar, whether $100 billion to increase the debt ceiling, $200 billion. take your pick, mr. president. >> thank you four a great two hours. "squawk on the street" begins right now. >>> congratulations to the alabama crimson tide, winners of the bcs college football championship for a second straight year. a third time in the last four years. what a run. it good morning, welcome to "squawk on the street." i'm melissa lee, live
. don't become a pirate over the weekend. ♪ gerri: hello, everybody. i'm gerri willis. our video games -- are video games to blame for gun violence in this country? vice-president continuing his week-on meetings at the white house seeking ways to reduce gun violence in this country following last month's massacre in newtown, conn. today it was the video-game industry's turn. in those talks were publishers of some of the most violent games out there including electronic arts, activision blizzard his violent game, call of duty, one of the biggest moneymakers ever. this is what it is like to play one of these games which brings him back to the question i started this show with. are video games really to blame? for joining me now, a psychiatrist to things video games are responsible for gun violence. a gaming blogger with sentinel who says they're not to blame. travis, you say your video game player. you say they are not to blame. how so? >> i have been playing video games for around 17 years. at plated number of video games, and at the end of the day when we talk about sandy hook and viol
. saying this would not be good for alcoa. options markets with a 40-cent move, don't know what the stock is doing but it seems i am wrong and the market is wrong, it must be higher. sandra: global aluminum demand forecasting it to be up 7%, larry, in 2013. that is a big turnaround from the demand we have seen. it is a really good indication to the economy pointing to an improvement in the economy. >> they are implying 6% to 7% demand growth. what is more important is supplies are even higher and beyond that it is really strong. aluminum still not trading. we will still see the utmost production of aluminum creating a bigger supply, longer and longer to see stocks. ashley: after hours up about $0.16 on the bid. do you see a lot of movement to the upside when it opens tomorrow? >> probably so. given the options market implied $0.40 move it seems a little bit more upside. i would still be a seller right now, a little rich given the price of aluminum will stay low. a little more upward momentum is in order for tomorrow morning. sandra: we will get to you when the s&p futures close. maybe cou
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